July 7th Friday 2006 Trade Log

#FuturesTrades is a private and free realtime trading posting chat room on the IRC Othernet server that allows traders from all over the world to communicate.

Click here for the instructions on gaining access to #FuturesTrades.

In addition, NihabaAshi is the only trader in #FuturesTrades that represents TheStrategyLab.com strategies.

Further, you'll find below the chat room time stamped text log of realtime trades (real money and simulator) that were posted by full-time, part-time traders from around the world and the timestamp is eastern standard time (est). 

Also, below NihabaAshi's trading blog like comments, you can read the time stamped trades (prices, entries, exits et cetera) and market discussions that sometimes contains trading tips or insights that are more useful than what you will see at any other futures blog or chat room.

Trading Blog Below is not your traditional trader's blog in the usual blog format. However, you will find informative commentary on a few occasions as time permits and such will contain trading tips that should help your trading as I attempt to sum up my thoughts as I traversed from the first trade to the last trade that was posted in #FuturesTrades realtime trade posting chat room. 

 

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ER2 EuroFX EC
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Real Money Trading versus Simulator Trading  

This afternoon trading session I was using the simulator.

There are do's and don'ts about using simulators.

* Only use a simulator by your broker and not a third party simulator that doesn't have the ability to switch over to real money trading.

Do not paper trade via writing down entries and exits...use an actual simulator.

* Only use a simulator when using a new broker trading platform and stop using it when you become familiar with placing trades on that platform.

This familiarity should take no more than 2 weeks.

* Only use a simulator via the same money amount you'll will be trading with real money along via the same number of contracts.

* Only use a simulator when testing another traders method because of the fact your unfamiliar with the method.

After a few trading days of such...stop using the simulator and test the method via a small size.

* Document all simulator trades as if they were real money trades.

* Do not use a simulator to develop or improve your strategies.

To improve or develop your strategies...do such via backtesting (computer code or manual).

* If your losing money...stop trading and revise, retest (backtest) the revision of your strategy instead of switching to a simulator...

Ok...that's it.

Today's results (real money and simulator trading) shown above are that of NihabaAshi only. To see his total accumulated points for the month of July...click here. To see results for the months of 2006 and prior years...click here.

Commentary by M.A. Perry (a.k.a. NihabaAshi)  
intradaystrategies@yahoo.com

Note: Each month there are a few trading days that we consider to involve interconnecting key price action of different markets and you can view the charts associated with the key price action along with their stories at our key chart story archives.

  

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Session Start: Fri Jul 07 09:24:27 2006Session Ident: #futurestrades
* Now talking in #futurestrades09:24
<X> [NihabaAshi] #FuturesTrades info @ http://www.thestrategylab.com/FuturesTradesChatRoom.htm and trade log archives @ http://www.thestrategylab.com/RecentTrades.htm
<pat255> gm all...
<szubaark> gm09:26
<Awash> morning09:30
<les>  Shorts ER2 @ 722 paper
Covered 2/3 ER2 Short @ 721.5 --> + 0.5 paper 09:31
exit stop lowered ER2 @ 721.9 paper
<NihabaAshi>  Long ER2 @ 720.20 -> small size 09:32
<Awash>  Shorts ES or YM @ 11210 paper
<les>  exit stop lowered ER2 @ 721.1 paper
<Awash>  Covered all ES or YM Short @ 11218 --> - 8 paper 09:34
<les>  exit stop lowered ER2 @ 720.9 paper 09:35
<NihabaAshi>  Covered ER2 Long @ 719.60 --> - 0.6 09:36
Reversed and Enter Short ER2 @ 719.60
<les>  Covered Remainder ER2 Short @ 720.3 --> + 1.7 paper
<NihabaAshi> Covered ER2 Short @ 720.40 --> - 0.8 09:38
Reverse and Enter Long ER2 @ 720.40
Long ER2 @ 720.90 -> Add
Position now at 3 contracts...will add more.09:39
Long ER2 @ 721.70 -> Add
Long ER2 @ 722.10 -> Add 09:41
Long ER2 @ 722.90 -> Add 09:42
Position now at 6 contracts...no more adds.
Will start dumping if/when it hits 723.50
<Awash>  Shorts ES or YM @ 11208 paper 09:50
<pdays>  Long ER2 @ 721.4 paper 09:51
Exited all ER2 Long @ 722.0 --> + 0.6 paper 09:52
  
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<NihabaAshi> It's important that ER2 volatility doesn't die on me or else I'll be forced out of this trade before reaching any profit targets...forced out at a loss.09:55
<X>  #FuturesTrades Info -> Chat room for realtime trade posting by traders of Emini Futures (ER2, ES, NQ, YM), EuroFX Futures (EC), Eurex Derivatives (DAX, ESTX50), Euronext Futures (FTSE100, CAC40), Treasury Futures (ZF, ZN, ZB), NYMEX Futures (CL, NG, HO, QM) and Exchange Traded Funds (DIA, GLD, IWM, OIH, QQQQ, SPY)09:57
<NihabaAshi> :(09:58
<Awash>  Covered all ES or YM Short @ 11197 --> + 11 paper
<NihabaAshi> Volatility still declining :(10:00

Starting to look like the 0830am est price reaction to the key economic report took too much steam out of the market...10:02

Will need to be a little extra patient with this trade.
<Awash>  Shorts ES or YM @ 1278.50 paper
exit stop set ES or YM @ 1279.75 paper 10:06
<jperl> ER2 VWAP now 721.0
<codehead> long ER 720.60 <paper>10:07
1 pt stop
1.1 pt stop make it10:08
<Awash>  Covered all ES or YM Short @ 1279.75 --> - 1.25 paper 10:09
<codehead> exit half +1 <paper> stop on remainder raise to b/e
<NihabaAshi> The goal was to reach my profit targets BEFORE the 1030am est Natural GAS report and BEFORE volatility started dying...

If this doesn't get back to the 722.00 price level soon...I'm going to be looking for any bearish signs to reverse my position.10:10
<Awash>  Long ES or YM @ 11213 paper
<codehead> exit ER +2.90 <paper>10:11
<NihabaAshi>  Exited ER2 Long @ 723.60 --> + 0.7 10:13
<codehead> nice
<NihabaAshi> Exit 1 contract...holding 5 contracts.
<pat255> vn niha ..geez i would have given up with er 719
<szubaark> Nice Niha, a lot of patience.
<NihabaAshi> 
It was that last ADD up there so close to my profit target of 723.50 that worried me.10:14

 
<Awash>  exit stop raised ES or YM @ 11214 paper
<NihabaAshi> I was ok with the others.10:15

Exited ER2 Long @ 724.30 --> + 2.2 10:16

Exit another 1 contract for +2.20 and holding 4 contracts
<Awash>  Exited all ES or YM Long @ 11234 --> + 21 paper
<NihabaAshi> Trade post script keeps posting +3.9 in error.10:17

exit stop raised ER2 @ 721.80 10:18
<les> it did that to me yesterday niha
i had to repost the lot to clear it10:19
<szubaark>  Shorts NQ @ 1554
<NihabaAshi> The 724.20 price level is the retracement of the key Dark WRB that was produced earlier in ER2 first 2mins of trading after 0930am est.10:22
<Awash>  Shorts ES or YM @ 1281.75 paper
<NihabaAshi> Meant the retracement of the s/r zone of the Dark WRB body.
Exit another 1 contract for +1.00 and holding 3 contracts10:24
Exited ER2 Long @ 722.70 --> + 1.0
I got 2 contracts remainders @ 720.40 and 1 contract remainder @ 720.9010:26
If I get a bullish pop from the 1030am est Natural GAS report...10:27
I'll convert (which was the goal) those 3 contracts from a day trade into a "position trade".
<pat255> NGAS #'s in 2 minutes..10:29
  

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<NihabaAshi> This afternoon I'll be on the simulator because I'm going to be testing something that someone shared with me a few trading days ago.
<pat255> k niha ...10:31
<NihabaAshi> No volatility reaction so far.10:32
<aym> Short qm @ 75.1 risk 210:33
<NihabaAshi> Volatility is dying so something needs to pop here soon.
Oil declining :(
<aym> oops risk 0.2 for qm10:34
<NihabaAshi>  Exited Remainder ER2 Long @ 721.30 --> + 0.9 10:35
Exit all remainders for a +0.40 on 1 contract and +0.90 on 2 contracts :(10:36
Got shook out.
Shorts ER2 @ 721.10 -> small size 10:37
1 contract only
Covered ER2 Short @ 721.80 --> - 0.7 10:43
Reverse and Enter Long ER2 @ 721.80
Reversed into a 3 contract position.
  
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   Trading Strategies ->   These strategies will reveal and explain specific strategies from entry to exit that exploit inefficiencies in the price action of your trading instrument for profits in the following trading instruments: Emini Index Futures (ER2, ES, NQ, YM), EuroFX Futures (EC), Eurex Index Derivatives (DAX, ESTX50), Euronext Index Futures (FTSE100, CAC40), Treasury Futures (ZF, ZN, ZB), NYMEX Energy Futures (CL, NG, HO, QM) and Exchange Traded Funds (DIA, GLD, OIH, IWM, QQQQ, SPY) 
  
<Awash>  Covered all ES or YM Short @ 1279.75 --> + 2 paper 10:44
<szubaark>  Covered all NQ Short @ 1553.50 --> + 0.5 10:45
<NihabaAshi>  Exited 2/3 ER2 Long @ 722.30 --> + 0.5 10:46

Trying again...converting this remainder from a day trade into a "position trade".10:48

exit stop raised ER2 @ 721.90

Volatility dying again and I don't have enough upward price cushion for my trailing stop to survice any retracement back down :(10:53

#FuturesTrades Purpose -> No gurus here, no signal calling by a head trader and no intentions to educate. This room is being used by you as a realtime trade journal of trades (real money or simulator) and discussions are for you to add additional info to your brokerage statements. Do not mimic (shadow) the trades by others without their consent as stated at http://www.thestrategylab.com/FuturesTra desChatRoom.htm10:55

Exited Remainder ER2 Long @ 722.00 --> + 0.2 10:57
<szubaark>  Shorts NQ @ 1552.25 10:58
<NihabaAshi> Hard to position trade on days like today in hopes of catching a good trend.
<pat255> agrre Niha ...mkt is choppy ...Dt are best now10:59
<NihabaAshi> Yep...that price reaction on the 0830am est economic report release absorbed all the volatility and there's just no more steam.11:02

Be back later in the p.m. trading session...hopefully the market will have caught its second wind.11:03
* NihabaAshi is now known as NihabaAshi_away
<X>  #FuturesTrades Info -> Chat room for realtime trade posting by traders of Emini Futures (ER2, ES, NQ, YM), EuroFX Futures (EC), Eurex Derivatives (DAX, ESTX50), Euronext Futures (FTSE100, CAC40), Treasury Futures (ZF, ZN, ZB), NYMEX Futures (CL, NG, HO, QM) and Exchange Traded Funds (DIA, GLD, IWM, OIH, QQQQ, SPY)11:09
<szubaark> Only reason im still Short is Overall market is down "Today"11:18
<codehead> YM has support around here, but i'd like to see that wedge break down11:21

i think it might get bought after the flush

just a hunch
<szubaark> code.. any push down Ill consider it a gift with this crap price action11:22
<codehead> wow QM had a nice inv ghost after the flush

head in extremes, shoulders at zero line11:23
<szubaark> woodies likes head and shoulder to be below or slightly above the 100 lines
that QM ghost is Invalid11:24
<codehead> they are just below on my chart

5 min

he would count that11:25

long YM 11202 <paper>

11196 stop11:26

not sure if it can break down, wish it would, and i might take a trade for real

Er looks bouncy

meant 11195 stop11:27
<szubaark> its in no mans land11:28
<codehead> ya

ditw
<szubaark> ive seen floor boys whack it up down before
<codehead> k, might lose it here11:30

shake

exit hald +10 <paper>

half
<szubaark> nice code11:31
<codehead> had a feeling a dip would get bought, was having trouble
<szubaark>  Covered all NQ Short @ 1557.50 --> - 5.25 11:32
:((
Long NQ @ 1557.50
<codehead> exit remainde +20 <paper>11:33
  
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<Awash>  Long ES or YM @ 11223 paper
exit stop set ES or YM @ 11224 paper 11:50
Trailing Stop Hit ES or YM @ 11224 --> + 1 paper 11:54
<X>  #FuturesTrades Info -> Chat room for realtime trade posting by traders of Emini Futures (ER2, ES, NQ, YM), EuroFX Futures (EC), Eurex Derivatives (DAX, ESTX50), Euronext Futures (FTSE100, CAC40), Treasury Futures (ZF, ZN, ZB), NYMEX Futures (CL, NG, HO, QM) and Exchange Traded Funds (DIA, GLD, IWM, OIH, QQQQ, SPY)12:21
<szubaark>  Exited all NQ Long @ 1564.50 --> + 7 12:41
code nice ghost on QM 5min12:44
<codehead> Qm inverted ghost on 5 min12:48
<szubaark>  Shorts NQ @ 1564.50 12:55
Covered all NQ Short @ 1561.75 --> + 2.75 12:59
code ER forming ghost13:30
<X>  #FuturesTrades Info -> Chat room for realtime trade posting by traders of Emini Futures (ER2, ES, NQ, YM), EuroFX Futures (EC), Eurex Derivatives (DAX, ESTX50), Euronext Futures (FTSE100, CAC40), Treasury Futures (ZF, ZN, ZB), NYMEX Futures (CL, NG, HO, QM) and Exchange Traded Funds (DIA, GLD, IWM, OIH, QQQQ, SPY)
<szubaark>  Long NQ @ 1556 13:34
<codehead> long ER 721.20 paper13:36

stop 719.8013:38
<szubaark>  exit stop set NQ @ 1556 13:41
keeping Longs Tight.. countertrend
Exited all NQ Long @ 1556 --> 0 13:43
Long NQ @ 1557.75 13:45
just noticed we are at weekly bottom on SPX13:47
<codehead> exit half ER +1.1 <paper> raise stop on remainder to b/e14:04
<szubaark>  Exited all NQ Long @ 1559 --> + 1.25
<codehead> oh, my stop just tapped on ER, exit +0 on remainder14:12
<szubaark>  Shorts NQ @ 1556.75 14:34
IF ES breaks here could be nice Short14:36
<X>  #FuturesTrades Info -> Chat room for realtime trade posting by traders of Emini Futures (ER2, ES, NQ, YM), EuroFX Futures (EC), Eurex Derivatives (DAX, ESTX50), Euronext Futures (FTSE100, CAC40), Treasury Futures (ZF, ZN, ZB), NYMEX Futures (CL, NG, HO, QM) and Exchange Traded Funds (DIA, GLD, IWM, OIH, QQQQ, SPY)14:42
<szubaark>  Covered all NQ Short @ 1551.25 --> + 5.5 14:44
Nice swings today both ways, good profit opportunities14:46
<NihabaAshi_away> As mentioned earlier...I'm using the simulator this afternoon because I'm testing something new that's the method of someone else that was shared with me just a few trading days ago.14:49
<NihabaAshi> I never use any third party simulators not associated with my broker platform.14:51
<WannaBeBOS> probably a good idea14:52
<NihabaAshi> In the past, I've made too many trade execution mistakes after going back to "real money" trading after using a simulator not associated with my broker.14:53
<WannaBeBOS> makes perfect sense14:54
<NihabaAshi>  Shorts ER2 @ 716.10 -> small size simulator
<codehead> long YM 11132 <paper>15:00

no, premature15:01

thot i saw signal... but wth 11119 stop
<NihabaAshi> Someone once asked me what's the "noise" range on ER2...15:03
I replied back by saying about 1.20 points.
<codehead> yeah, about right15:04
<NihabaAshi> Thus, don't panick about a losing position if your in the whole by -1.20 points.
Yet, its tough to swallow a loss of $120 dollars per contract :(
<codehead> ya

lotta people use 1.0 stops on ER, and if you do that, you give away money15:05

1.5 prolly a better stop
<NihabaAshi> Yep...I learned the hard way when I first started trading it.
<codehead> of course, can be tighter if you get the perfect entry, but ingeneral
<NihabaAshi> It can move +1.50 points so fast and back the other way just as fast...
It's like a rodeo ride.15:06
<codehead> exit half YM +10 stop b/e on rest <paper>

saw that ghost coming, just jumped the gun by a little

bond close signal bullish--meaning likely a buy of today's close is higher sometime early monday15:08

stopped out YM paper b/e15:12
<NihabaAshi>  Covered 2/3 ER2 Short @ 714.70 --> + 1.4 simulator
<NihabaAshi>  exit stop lowered ER2 @ 716.00 simulator 15:14
Covered Remainder ER2 Short @ 713.00 --> + 3.1 simulator 15:36
<pat255> niha u trying the new setups on simuator?15:48
<NihabaAshi> Yes...a former trading pal I use to share office space with in Seattle asked me to closely examine something.15:54
<X>  #FuturesTrades Info -> Chat room for realtime trade posting by traders of Emini Futures (ER2, ES, NQ, YM), EuroFX Futures (EC), Eurex Derivatives (DAX, ESTX50), Euronext Futures (FTSE100, CAC40), Treasury Futures (ZF, ZN, ZB), NYMEX Futures (CL, NG, HO, QM) and Exchange Traded Funds (DIA, GLD, IWM, OIH, QQQQ, SPY)
<NihabaAshi> When I do such...first few days is via a simulator and then I'll move to real money of the method with no more than 3 contracts.15:55
His trade management rules are seriously flawed and that's what I'm going to fix for him.
Pattern signal is good...just the trade managment stuff after entry.15:56
<pat255> k thks niha ...16:01

c u all later ...ty all..16:02
<NihabaAshi> Take care all and have a good weekend.16:17
* DisconnectedSession Close: Fri Jul 07 16:20:13 200616:20

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TheStrategyLab.com

questions@thestrategylab.com

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